i don't think obama is going to do it but i remember thatcher did it. the reason we have a bad economy in large part is not in spite of it. >> neil: if it wasn't the ideal moment to cut in the midst of a recession four years ago and year later, it was dicey and year after that the recovery was still dicey, when is the right time to cut. maggie thatcher did it the midst of all environments, arguing that longer term gains would more than justify acute short term pay? >> real serious thing, government spending is taxation, it really is. government doesn't create resources, it redistributes resources. when you should cut unnecessary spending is in the middle of a recession. i know people will tell you it's not true, but it is true. you can't tax an economy out of a recession. you just plain can't. >> neil: and i wanted to get with this into melissa francis into this, whether the first report out of the treasury indicates the whisperings of that. you can't hang your hat on tax hikes and can't be hoping and praying important another internet boom? >> you can'